Goldman Sachs: Aluminum = Gold!!.. You pay !! ( Archived) (12)

Jul 21, 2013 5:04 PM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960
Bogart_1960Bogart_1960Ask me !, Provence-Alpes-Cote d'Azur France36 Threads 1 Polls 10,012 Posts
A Shuffle of Aluminum, but to Banks, Pure Gold

Hundreds of millions of times a day, people open a can of soda, beer or juice. And every time they do it, they pay a fraction of a penny more because of a shrewd maneuver by Goldman Sachs and other financial players that ultimately costs consumers billions of dollars.

The story of how this works begins in 27 industrial warehouses in the Detroit area where a Goldman subsidiary stores customers’ aluminum. Each day, a fleet of trucks shuffles 1,500-pound bars of the metal among the warehouses. Two or three times a day, sometimes more, the drivers make the same circuits. They load in one warehouse. They unload in another. And then they do it again. An it is legal !!

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Jul 21, 2013 5:32 PM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960: A Shuffle of Aluminum, but to Banks, Pure Gold

Hundreds of millions of times a day, people open a can of soda, beer or juice. And every time they do it, they pay a fraction of a penny more because of a shrewd maneuver by Goldman Sachs and other financial players that ultimately costs consumers billions of dollars.

The story of how this works begins in 27 industrial warehouses in the Detroit area where a Goldman subsidiary stores customers’ aluminum. Each day, a fleet of trucks shuffles 1,500-pound bars of the metal among the warehouses. Two or three times a day, sometimes more, the drivers make the same circuits. They load in one warehouse. They unload in another. And then they do it again. An it is legal !!

and as usual,select Politicians have their Fingers up to the Wrist in the Pie!
Wonder what they are getting for selectively relaxing certain Regulations for certain Bankinghouses!
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Jul 21, 2013 5:44 PM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960
Bogart_1960Bogart_1960Ask me !, Provence-Alpes-Cote d'Azur France36 Threads 1 Polls 10,012 Posts
Conrad73: and as usual,select Politicians have their Fingers up to the Wrist in the Pie!
Wonder what they are getting for selectively relaxing certain Regulations for certain Bankinghouses!


I was terrified when I read that. that’s is against any law, as it is manipulating and speculating prices, and passing to end customers - public.

the most interesting part, (not well known to general public), is that the U.S. Department of Justice is demanding that a "remorseless" Taiwanese company pay a $1 billion fine and two former top executives each serve 10 years in prison for their roles as central figures in what prosecutors called the most serious price-fixing cartel ever prosecuted by the U.S... on LCD screens used in televisions...

so how much should be asked?
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Jul 21, 2013 6:00 PM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960: I was terrified when I read that. that’s is against any law, as it is manipulating and speculating prices, and passing to end customers - public.

the most interesting part, (not well known to general public), is that the U.S. Department of Justice is demanding that a "remorseless" Taiwanese company pay a $1 billion fine and two former top executives each serve 10 years in prison for their roles as central figures in what prosecutors called the most serious price-fixing cartel ever prosecuted by the U.S... on LCD screens used in televisions...

so how much should be asked?
But this is Goldman-Sachs,and George Soros owns Stock in it!laugh
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Jul 21, 2013 6:03 PM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
RayfromUSA
RayfromUSARayfromUSAvienne, Rhone-Alpes France86 Threads 29 Polls 6,611 Posts
Goldman Suchs.
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Jul 21, 2013 6:16 PM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960
Bogart_1960Bogart_1960Ask me !, Provence-Alpes-Cote d'Azur France36 Threads 1 Polls 10,012 Posts
Conrad73: But this is Goldman-Sachs,and George Soros owns Stock in it!


well, lets keep paying for "poor" Soros, and GS... and all his perks..so, tomorrow, don't forget to buy some "aluminum foil something".

I wonder why is called "Goldman"...
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Jul 22, 2013 1:34 AM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
you wonder?



The shadiest player in the Goldman Sachs drama may be neither Goldman nor John Paulson, but the German bank that the SEC maintains was duped in the scheme. John Carney details how the bank itself engaged in a pattern of dirty trading tactics that caused billions in losses.
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Jul 22, 2013 3:26 AM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960
Bogart_1960Bogart_1960Ask me !, Provence-Alpes-Cote d'Azur France36 Threads 1 Polls 10,012 Posts
Conrad73: you wonder?



The shadiest player in the Goldman Sachs drama may be neither Goldman nor John Paulson, but the German bank that the SEC maintains was duped in the scheme. John Carney details how the bank itself engaged in a pattern of dirty trading tactics that caused billions in losses.


thats the one side of the coin... they play the GS game. but the other side of the coin, is how GS play with "average Joe´s".

"Goldman agreed to provide credit protection, before pawning off the mirror image of Paulson’s basket, named Abacus, to unsuspecting customers, while pocketing a profit on both sides of the transaction."

the GS defense is based on this "Either the German bank executives were sophisticated and knew what they were investing in when they bought derivatives from Goldman, or they were lying about their sophistication when they bought them." - brochure of "IKB CAM has developed a leading position in the structured finance market through its innovative application of rigorous selection methodologies to the CDO market," the brochure claims in another place.
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Jul 22, 2013 3:28 AM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960: thats the one side of the coin... they play the GS game. but the other side of the coin, is how GS play with "average Joe´s".

"Goldman agreed to provide credit protection, before pawning off the mirror image of Paulson’s basket, named Abacus, to unsuspecting customers, while pocketing a profit on both sides of the transaction."

the GS defense is based on this "Either the German bank executives were sophisticated and knew what they were investing in when they bought derivatives from Goldman, or they were lying about their sophistication when they bought them." - brochure of "IKB CAM has developed a leading position in the structured finance market through its innovative application of rigorous selection methodologies to the CDO market," the brochure claims in another place.
But it seems the Germans were up to their Necks into the Scam,with open eyes!laugh
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Jul 22, 2013 3:33 AM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960
Bogart_1960Bogart_1960Ask me !, Provence-Alpes-Cote d'Azur France36 Threads 1 Polls 10,012 Posts
Conrad73: But it seems the Germans were up to their Necks into the Scam,with open eyes!


oh yes, very much... they play very well, and end up on the upper side - mostly. a few "bad deals", but the end result was pretty good. by the way, also the Swiss..
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Jul 22, 2013 3:43 AM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960: oh yes, very much... they play very well, and end up on the upper side - mostly. a few "bad deals", but the end result was pretty good. by the way, also the Swiss..
seems we weren't in this one!
Might be learning!
Just tiresome propping up that EURO,though!laugh
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Jul 22, 2013 3:50 AM CST Goldman Sachs: Aluminum = Gold!!.. You pay !!
Bogart_1960
Bogart_1960Bogart_1960Ask me !, Provence-Alpes-Cote d'Azur France36 Threads 1 Polls 10,012 Posts
Conrad73: seems we weren't in this one!
Might be learning!
Just tiresome propping up that EURO,though!



Credit Suisse, -195 billion (loss)- paper in my view. I have been "debating" this loss from a long time ago.

IKB - $1.2 billion - real loss

euro paid that...


laugh
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